Australia Keeps Rates Steady as Signs of Recovery Grow

Central Bank Stays Cautious After Recent Positive Economic Data

By

Shani Raja And

David Rogers

Updated Nov. 5, 2013 3:11 a.m. ET

SYDNEY—Australia's central bank kept a cautious tone on the economy as it held interest rates steady against a backdrop of growing evidence that sectors from manufacturing to main-street retailing are emerging from a lengthy funk.

The Reserve Bank of Australia signaled Tuesday it was looking for stronger signs that accelerating activity in the housing, retail and manufacturing industries was more than a temporary blip before it would...